Energy & Oil

• Monday, February 16th 2015 - 21:50 UTC

  Falklands begins consultation on oil impact on society and local culture

  

  Falkland Islands will this month begin to grapple with the big questions about how oil and gas development will impact on their society and culture. The start of a series of focus groups run as part of the Social Effects Monitoring Programme study, led by Regeneris Consulting, and Falkland Island partners Karen Lee and Carolyn Montgomerie, reports the Penguin News in its latest edition.

• Thursday, February 12th 2015 - 05:55 UTC

  Petrobras CEO says he has 'full autonomy' in fuel-price policy and cash flow

  

  The new chief executive officer of Brazil's Petrobras said that he has full autonomy to dictate its own fuel-pricing policy and protect cash, even as he questioned the size of losses stemming from a giant corruption scandal.

• Thursday, February 12th 2015 - 05:45 UTC

  Petrobras has trouble finding an independent chairman of the board

  

  Petrobras plans to publish its delayed audited fourth-quarter results by the end of March, something it needs to do to avoid possible early repayment of its bonds, the Globo newspaper said on Wednesday. Globo also published that the Brazilian government was considering appointing Planning minister Nelson Barbosa as chairman of the oil giant.

• Thursday, February 12th 2015 - 05:23 UTC

  Explosion in Petrobras floating oil rig kills at least three; six missing

  

  At least three oil workers were killed and others were injured in an explosion at an offshore oil and natural gas platform in Brazil operated by state-run energy company Petroleo Brasileiro SA , union officials have said.

• Wednesday, February 11th 2015 - 15:31 UTC

  Arctic oil on life support

  

  Oil companies have eyed the Arctic for years. With an estimated 90 billion barrels of oil lying north of the Arctic Circle, the circumpolar north is arguably the last corner of the globe that is still almost entirely unexplored.

• Wednesday, February 11th 2015 - 15:26 UTC

  Norway's Statoil appoints new CEO and identifies three main challenges

  

  Statoil’s board of directors has appointed Eldar Sætre as the company’s new president and CEO. Sætre, who has 35 years’ experience from Norway's' Statoil and the oil and gas industry, has been acting as president and CEO since October, and assumes the role with immediate effect.

• Friday, February 6th 2015 - 23:27 UTC

  Market reacts negatively to Petrobras new CEO: too political and too close to Rousseff

  

  Shares in Brazil's oil giant Petrobras plunged Friday as banking executive Aldemir Bendine, who is seen as too close to President Dilma Rousseff's party, was named the scandal-hit firm's new chief executive.

• Friday, February 6th 2015 - 17:38 UTC

  Falklands offered oil industry scholarships from Trinidad

  

  Three scholarships for Falkland Islanders at the National Energy Skills Centre (NESC) in Trinidad and related to the oil and gas industry are likely to be available within two years and will be overseen by the Training Centre in the Falklands.

• Friday, February 6th 2015 - 06:57 UTC

  Brazil ruling party's treasurer questioned on the Petrobras corruption probe

  

  Brazilian federal police said on Thursday they had started questioning João Vaccari Neto, the treasurer of the country's ruling Workers' Party, as a corruption probe focused on state-run oil company Petrobras widened to include political figures.

• Friday, February 6th 2015 - 02:11 UTC

  Rise of the vulture investing class

  

  The oil markets are showing some life, having rallied 11% over a two-day period. But if a bigger rebound is not around the corner, it won’t just be oil companies that will be feeling the pain: their lenders will also face some steep losses if drillers can’t come up with the cash to cover debt payments.